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China's nonferrous metal sector continues to invest heavily in fixed assets
30/5/2007 17:06

China's non-ferrous metals industry continued to invest heavily in fixed assets in the first four months of the year.
Sources with the National Development and Reform Commission said today that between January and April, the nonferrous metal industry recorded 29.4 billion yuan (US$3.8 billion) in fixed-assets investment, up 48 percent over the same period of last year.
Fixed assets investment in the sector is growing too rapidly, they said.
Smelting enterprises invested 15.8 billion yuan and mines 5 billion yuan, both up nearly 50 percent, and processing enterprises invested 8.6 billion yuan, up 45 percent.
Plans for new projects abound. Companies -- particularly processing enterprises and mines -- began scores of new projects in the first four months involving a further 45 billion yuan of fixed-assets investment.